This week in Grade 10 Accounting we are learning about credit sales. We will be investigating the costs and advantages of Birdie Num Nums (BNN) selling on credit. The following knowledge is crucial as we begin the investigation:

  • Credit is the act of selling goods or services to a customer; it does not require a payment at the time of purchase.
  • Selling on credit has the advantage of boosting sales. It also attracts and retains customers.
  • The prices of goods are higher at shops that offer a credit facility, interest can also be added to the selling price.
  • The main risk for business’ offering credit is that a customer may not pay his account.

We will be running this investigation with the BNN’s staff and the outcome will be shared with you soon.

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